Visa is modifying its policies to limit the number of fraudulent transactions that issuers can charge back to merchants (and their acquirers). Historically, issuers have been responsible for the full cost of counterfeit fraud that takes place at a merchant. In 2011, to support the migration to EMV chip technology, Visa announced a liability shift…
Hong Kong-based mPOS manufacturer, BBPOS, has released WisePad2 enabling the upmost flexibility for it to be used in all environments – integrated POS, semi-integrated POS or stand-alone. The new product only requires a mobile network connection. WisePad2 does not require the necessity of carrying around a second additional device such as a tablet, as required…
Online fraud increased 360% in France post EMV and the U.S. will likely realize the same in 2016. However, mobile is the future of retail.
CardFlash News Briefs: TSYS (CQM); HEARTLAND (LiquorPOS); MEMBER SOLUTIONS (PCI-DSS); and CARDFLIGHT (TSYS).
The chorus to discard signatures for EMV and go to PIN transactions is growing. FBI that new chip-based credit cards are safer than traditional cards but still vulnerable to fraud and need to be used with a PIN instead of a signature to minimize risk.
The National Retail Federation (NRF) blasted the EMV migration noting small businesses should not be pressured to install the equipment to accept them at the expense of more effective technology. The NRF told Congress that new chip-and-signature credit cards without a PIN will not stop data breaches.
Among merchants in the retail category, 69% of Shoe Stores and 59% of Department Stores have EMV-ready terminals. On the lower end of the spectrum, 23% of Stationery Stores and 24% of Book Stores have EMV-ready terminals.
The future has arrived as Visa introduced a new specification to use biometrics with chip card transactions. The specification can enable palm, voice, iris, or facial biometrics. This first-of-its-kind technology framework is designed to work with the EMV (Europay, MasterCard, Visa) chip industry standard to help ensure open, globally interoperable solutions.
Constellation Payments, a leading gateway and merchant services provider for software companies, franchisors, direct sales organizations, and large merchants, announced today the launch of its integrated EMV terminal initiative designed to simplify the transition to new EMV payment terminals for software users and merchants.
Alliance Data Systems has introduced an EMV-based co-brand credit card solution with tap-and-pay functionality for its retail partners. The first of these dual-interface chip cards are co-branded with MasterCard and BJ’s Wholesale Club and the Fuel Rewards program.
Cubic Transportation Systems was awarded a $12.6 million contract from the San Francisco Bay Area Rapid Transit District (BART) to update its revenue management system.
San Francisco’s beloved Consumer Action, funded by Visa, has created “A consumer’s guide to ‘chip’ cards,” a free publication designed to help credit and debit cardholders understand why the transition is taking place, how the checkout process will change, what consumer protections they will have and where to get more information.